Convert the interest rate to a decimal value. Formula For The Simple Interest Let the principal amount be equal to P. 8000 x 1 x 009.
6 months 1 2 year.
One way to calculate the future value would be to just find the interest. Principal rate of simple interest and amount problems. Let the rate at which the interest is levied is equal to R per annum per year. When you know the principal amount the rate and the time the amount of interest can be calculated by using the formula.